📈 Stocks & Economy🇮🇳 India
Strait of Hormuz Crisis Hits India Hard: Oil Prices Surge as US-Iran War Escalates
MarketWatch.com·Thursday, 9 July 2026
The Strait of Hormuz is back under what analysts are calling 'full-conflict conditions' after the US launched additional strikes on Iran. Oil prices surged to their highest levels in more than two weeks, with volatility expected to persist in energy markets. President Trump declared an interim deal with Iran 'over' while speaking at a NATO summit.
Why It Matters
India imports around 85% of its crude oil needs, and a large chunk passes through the Strait of Hormuz. A sustained oil price spike hits every Indian directly through higher fuel, transport, and food prices.
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